Jun, 30, 2024 — LIFETIME FEDERAL CREDIT UNION is a federal credit union headquartered in RICHARDSON, TX with 2 branch locations and about $52.07 million in total assets. Opened 75 years ago in 1949, LIFETIME FEDERAL CREDIT UNION has about 5,261 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | LIFETIME FEDERAL CREDIT UNION |
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Address: (Main Office) | 1001 E Lookout Dr RICHARDSON, TX 75082-4144 |
Phone: | (972) 766-6732 |
Fax: | (972) 766-8416 |
Website: | https://lifetimefcu.org |
Branches: | 2 branch locations |
Members: | 5,261 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 6012 |
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Membership Type: | Multiple common bond - Primarily finance, insurance, real estate, trade |
Corporate Credit Union: | No |
Year Opened: | 1949 |
Last Audited: | Sep 01, 2021 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $52,067,040 |
CEO/Manager: | Darryl Trammell |
Chairperson: | Bryant Phipps |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,580,913 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 3,576,551 |
Unsecured Loans | 7,893,377 |
Other Loans | 14,296,801 |
TOTAL LOANS | 28,535,687 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -261,644 |
Land And Building | 0 |
Other Fixed Assets | 175,407 |
NCUSIF Deposit | 391,250 |
All Other Assets | 0 |
TOTAL ASSETS | 52,067,040 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 641,056 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 3,809,349 |
Regular shares | 28,929,583 |
All Other Shares & Deposits | 8,258,894 |
TOTAL SHARES & DEPOSITS | 40,997,826 |
TOTAL LIABILITIES | 41,638,882 |
Regular Reserve | 0 |
Other Reserves | 2,159,610 |
Undivided Earnings | 8,268,548 |
TOTAL EQUITY | 10,428,158 |
TOTAL LIABILITIES, SHARES, & EQUITY | 52,067,040 |
INCOME & EXPENSE | |
Loan Income | 370,257 |
Investment Income | 94,515 |
Other Income | 120,009 |
Total Employee Compensation & Benefits | 147,469 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 201,789 |
Non-operating Income & (Expense) | 9,609 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 70,682 |
Cost of Funds | 76,813 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 144,077 |
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